Ros Agro, the Russian meat-to-oils group, has seen sales surge in the first nine months of the year as it benefited from Russia’s restrictions on food imports from countries including the EU, Canada and US.
The company, the holding company for Rusagro Group, said sales increased 75% to RUB44.28bn (US$1.05bn) in the period.
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Gains were propelled by a 159% jump in sales from Rusagro’s meat business. The group had previously indicated it plans to step up production of meat products such as pork to meet demand in Russia and offset lower supplies, which are the consequence of import restrictions.
Revenues at Russgro’s oils and fats business rose 101% and sales of sugar jumped 41%, the company added.
Click here to view the announcement from Ros Agro.
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